Research

At B. Riley, our research process is an interactive one where we perform extensive due diligence on companies until the analyst develops the knowledge base and understanding of the company and the industry to make a recommendation. Our analysts continuously monitor industry developments and communicate with the management, competitors, suppliers and customers of the companies we follow, regularly communicating our findings through Research Updates and daily Morning Notes.

While we do not necessarily publish research on all of the companies we review, the knowledge base and understanding of many of our monitored companies parallels that of our covered companies. We actively cover over 100 companies and monitor an additional 100. Our analysts cover small to mid-cap companies that are under-followed or misunderstood by Wall Street. We believe that the pricing of small cap equities is frequently inefficient, and therefore provides the greatest potential rewards to diligent security analysis.

This Week's Research

  • 05/24/17 Morning Note B. Riley AM Note: DSW, EVLV, KIRK, OOMA, TLYS (upgrade), VSAT
  • 05/24/17 Update KIRK ($9.01, Buy; $13.50 PT): Light Q1/FY Guidance Reiterated; Evolving Merchandising, Systems, Marketing; Potential is Intact; Attractive Risk/Reward;…
  • 05/24/17 Update DSW ($16.21, Neutral; $18.50 PT): Q1 Comps In Line/GM Below; Mixed Guidance; Backend-Loaded FY; E-comm Growing; Trends to Exploit, but Still a Work…
  • 05/24/17 Update TLYS ($10.00, Buy; $12.00 PT): Q1 Surprised w/ Positive Traffic & Margins; Outperforming in a Sea of Sameness; Cheap and Cash-Rich; Raising Estimates…
  • 05/24/17 Update EVLV ($1.16, Buy; $2.00 PT): Reported Mixed Q1 Results; Guidance for 2017 Remains Unchanged as Underlying Demand Metrics Remain Positive Ahead of…
  • 05/24/17 Update OOMA ($11.70, Buy; $13.00 PT): Office Continues to Outperform but OOMA Reduces Guidance Amid Weaker Telo, Talkatone, and Business Promoter Expectations;…
  • 05/23/17 Update STMP ($122.40, Buy; $210.00 PT): Takeaways from 2017 National Postal Forum; Reiterate Buy Rating and $210.00 Price Target
  • 05/23/17 Update GSM ($10.01, Buy; $14.25 PT): Q1 Adj. EBITDA Exceeds RILY/Street Forecasts; Volume and Pricing Recovery Underway; Refreshing Estimates On Transition…
  • 05/23/17 Update EGHT ($13.00, Neutral; $14.00 PT): Earnings Preview: Revenue Growth Divergence as RingCentral Remains at ~30% and EGHT Top-line Trajectory Decelerates…
  • 05/23/17 Update Industry Update - Mitch’s Shoe Review—Spring 2017 (COLM, CROX, DECK, VFC, WEYS, WWW)
  • 05/23/17 Morning Note B. Riley AM Note: EGHT, GSM, PVH, STMP; Footwear (COLM, CROX, DECK, VFC, WEYS, WWW)
  • 05/22/17 Update LGF ($25.50, Buy; $36.00 PT): Q4 Earnings Preview; Lowering Q4 Adjusted OIBDA Estimate on Film Spend Timing with an Incremental Upside Bias to the…
  • 05/22/17 Update Industry Update - Retail Apparel: Multiple Contraction, as a Broadly Challenging Q1 Rolls Into a Lackluster Q2 and a Lot Rides on 2H Improvement:…
  • 05/22/17 Update FL ($59.16, Buy; $68.00 PT): Slight 1Q Comp/EPS Miss; Underwhelming 2Q Outlook; FY17 Guidance Unchanged; Basketball Should be Less of a Drag for 2Q-4Q;…
  • 05/22/17 Update SCVL ($20.12, Neutral; $21.00 PT): Modeling 1Q17 and FY17 In Line with SCVL’s Preannouncement; Not Expecting Much New News, but Hoping to Get an…
  • 05/22/17 Update GCO ($45.05, Buy; $56.00 PT): Upgrading from Neutral to Buy; Stock at a 5-year Low, yet Journeys Better Positioned than One Might Think; Lowering…
  • 05/22/17 Update DECK ($59.01, Neutral; $61.00 PT): DECK’s Fundamentals Remain Challenged, but Stock Trading on a Potential Sale and Not the Fundamentals
  • 05/22/17 Morning Note B. Riley AM Note: DECK, FL, GCO (upgrade), LGF, NCMI, RGC, SCVL; Recreational Marine (BC, HZO, MBUU, MCFT, MPX), Retail Apparel (DSW, GES, KIRK, PVH,…
  • 05/19/17 Update VRS ($3.86, Buy; $11.25 PT): 0.2x Price-to-Book is Too Cheap for a Company Generating Meaningful EBITDA; Maintaining Buy Rating & $11.25 PT
  • 05/19/17 Update SSI ($2.14, Sell; $1.00 PT): Q1 Comp -9.6%; FY17 Guide Includes Gordmans Acquisition- Not Expected to be Accretive in ‘17; Concerns about Venture…
  • 05/19/17 Update AMAT ($43.91, Buy; $56.00 PT): AMAT EPS Estimates Surge Higher, But C18 Still Has Upside; PT To $56.00, Retain Buy
  • 05/19/17 Update EVLV ($1.16, Buy; $2.00 PT): Q1 Earnings Preview; Comfortable with Estimates and Likely Upside Bias; Expected Improvement in Household Monetization…
  • 05/19/17 Update HIBB ($23.05, Neutral; $25.00 PT): 1Q18 Results In Line with Preannouncement; Recently-Revised Guidance also Reiterated, but Very Back Half Loaded;…
  • 05/19/17 Update VSAT ($63.33, Buy; $89.00 PT): Earnings Preview: VS-2 Launch Countdown, Alaska Airlines Showdown on the Current Menu as ViaSat Readies VS-3 Networks
  • 05/19/17 Update XCRA ($9.67, Neutral; $10.25 PT): Earnings Preview: Anticipating A Successive Ramp in Top-Line Growth Throughout FY ’18 (Jan); Fast-Growing UCaaS…
  • 05/18/17 Morning Note B. Riley AM Note: AEO, NCMI, OOMA, SRI; Optical Components (ACIA, IPHI, LITE, NPTN, OCLR)
  • 05/18/17 Update OOMA ($11.85, Buy; $15.50 PT): Earnings Preview: Anticipating A Successive Ramp in Top-Line Growth Throughout FY ’18 (Jan); Fast-Growing UCaaS Provider…
  • 05/18/17 Update AEO ($11.05, Neutral; $12.50 PT): Q1 Promotions Drove GM/OM Miss; Q2 Guide-Below; E-comm/Aerie Growing; Brick & Mortar Traffic Headwinds, Sea of Sameness;…
  • 05/18/17 Update NCMI ($7.47, Buy; $14.00 PT): Emerging from the 2017/2018 Upfront Event with a More Comprehensive Audience Engagement Platform; AMC Share Sale Overhang…
  • 05/18/17 Morning Note B. Riley AM Note: AMAT, CHKE, EVLV, FC, HIBB, SSI, VRS, VSAT, XCRA
  • 05/18/17 Update Industry Update: Optical Components - 2H Snapback Recovery Less Likely to Occur (ACIA, IPHI, LITE, NPTN, OCLR)